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Managing project priorities to align with dynamic market demand

For quite some time, IBM Rational has been saying that organizations need to manage value versus projects in order to be successful. When the economic and market situation was at its lowest point it became evident who managed projects and who managed value.

Organizations that managed projects were paralyzed. They knew that they had to cut costs, but they didn’t know where to cut. They began stopping projects based on “gut feelings” with no logical reasoning. A majority of these changes had no lasting effect.

On the other hand organizations that managed value were in a totally different situation. They managed the drastic change in the market by finding and focusing on activities that added value. They managed their portfolio to ensure all activities aligned with their organizational strategy. In addition they strategically ranked their projects so when the market conditions changed, they could quickly adjust.

With their priorities established, these organizations were able to cut excess while continuing to prosper. Here are three areas they focused on:

Portfolio Management secures better alignment of investment decisions with organizational strategies and priorities through control, collaboration and governance. Organizations also gain improved efficiency in the governance of portfolio rationalization efforts, leading to optimized allocation of capital resources with reduced time to decisions.

Demand Management helps capture the voice of customers, ideas, requirements, and projects in order to prioritize, evaluate, compare, visualize and plan for optimized portfolios to support business needs. Handled in an effective way, organizations will understand true business value and be able determine which projects are set up for success, and operate within resource, finance and time constraints.

Delivery Management encompasses managing value and change in delivery with increased transparency, collaboration and communication across teams. But disconnect between the business department and the delivery department creates a challenge for organizations to do so. Being able to bridge this gap generates a greater level of governance over the delivery, while keeping the focus on value.

IBM Rational for portfolio, demand, and delivery management helps companies reduce waste and increase business value by managing the end-to-end lifecycle. If you want more information take the opportunity and join this webcast between analyst firm IDC and IBM Rational Executives: http://bit.ly/NDeiSw or feel free to contact me directly.

About the author

Johan Hedström is a Business Planning & Alignment (PPM/EA) GTM market manager in IBM Rational Software. Johan has several years of experience working in collaboration with customers and partners around projects relating to portfolio management and product management. Email Johan at johan.hedstrom@se.ibm.com